The rights of Meebits, the crypto universe image Internet launched by CryptoPunks father Larva Labs in 2021, has changed hands for the next time.
The Meebit Company ( also known as MeebCo ), a new company supported by crypto venture fund 1confirmation, announced on Friday that it has purchased Yuga Labs, the previous owner and builder of the Bored Ape Yacht Club, for the Ethereum NFT IP and collection.
Yuga Labs had acquired the Meebits Internet from Larva Labs in 2022 alongside CryptoPunks. MeebCo, which is led by CEO Sergio” Sergito” Silva, will handle future growth around the 20, 000 Ethereum NFT images. Additionally, it has introduced a rewards program called Parts that aims to encourage participation in the avatars.
” Steering an NFT venture to victory takes vision, determination, and a strong passion for the community”, wrote Yuga Labs co-founder and CEO Greg” Garga” Solano on X. ” Meebits couldn’t be in better hands with]Silva ] and the team at MeebCo—excited to see them push the Meebs to new heights, and to see their plan for Bits unfold. Westward”!
Although Silva informed that Yuga Labs does own a stake in The Meebit Company, terms of the agreement were not made public. Yuga Labs did not immediately respond to ‘s request for comment.
Meebits launched in 2021 as the NFT market boom was escalating, but while immediately important, the avatars haven’t had the enduring demand of Larva Labs ‘ unique CryptoPunks, which also command a minimal price of almost$ 100, 000 on secondary markets.
By contrast, Meebits currently start at a price of under$ 2, 000 worth of ETH on NFT marketplaces as of this writing, and that’s following a 69 % price spike after the acquisition was revealed earlier Friday. When the initial sale started in May 2021, meebits were initially sold for about$ 8,750 worth of ETH.
Meebits were intended to be used with a variety of 3D metaverse platforms and activities, but the anticipated universe increase didn’t quite go as planned, Silva said, at least not yet.
” Meebits were very ahead of their time”, he told . ” They really haven’t had a chance to become appreciated”.
MeebCo today offers Meebits recipients and community members the chance to make Bits, a type of point that helps promote set engagement under new ownership. Points systems in bitcoin frequently act as a prelude to an airdrop and release of on-chain tokens, but no such programs have been made public as of yet.
According to an X string, MeebCo may provide Meebits NFT traders with Bits if they transact via dominant market OpenSea, the program’s recommended third-party trading platform. After a website system launches in the upcoming weeks, existing Meebits holders will also receive retroactive Bits, according to Silva, who added that new ways to earn money are on the horizon.
” It’s simply a better way for individuals to connect themselves with the potential that we’re building”, he told . It’s a good idea to participate in various signals that will help you accumulate Parts if you want to be a part of the future [of Meebits ].
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